37 acre Bhandup plot deal may earn Rs 11,000 crore
Real Estate

37 acre Bhandup plot deal may earn Rs 11,000 crore

A sprawling 37-acre expanse located in Bhandup, one of Mumbai's largest land parcels, formerly owned by the now-defunct engineering firm Guest Keen Williams (GKW), is set to undergo a joint development venture involving the landowner and real estate company Mahindra Lifespaces.

According to a reliable source familiar with the transaction, the projected worth of this mixed-use project, encompassing residential, retail, and office spaces, falls within the range of Rs 8,000 crore to Rs 11,000 crore. The property's owner, industrialist K K Bangur, had been attempting to divest the land for several years. However, there had been no takers due to the steep asking price of Rs 2,500 crore. The source explained, "Despite its proximity to the railway station and its connection to LBS Marg, no buyer was willing to meet this price for the Bhandup property outright."

A sprawling 37-acre expanse located in Bhandup, one of Mumbai's largest land parcels, formerly owned by the now-defunct engineering firm Guest Keen Williams (GKW), is set to undergo a joint development venture involving the landowner and real estate company Mahindra Lifespaces. According to a reliable source familiar with the transaction, the projected worth of this mixed-use project, encompassing residential, retail, and office spaces, falls within the range of Rs 8,000 crore to Rs 11,000 crore. The property's owner, industrialist K K Bangur, had been attempting to divest the land for several years. However, there had been no takers due to the steep asking price of Rs 2,500 crore. The source explained, Despite its proximity to the railway station and its connection to LBS Marg, no buyer was willing to meet this price for the Bhandup property outright.

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?